Even in Italy, Credit Agricole is now playing sobriety. The French banking group in Milan on Wednesday presented the local version of its comprehensive strategic plan to 2014. No major operation is in the program, but a work of conquest picky customers and improve profitability. "Our selection of organic growth excludes acquisitions, said the group's CEO, Jean-Paul Chifflet. We need to digest what we have acquired in recent years. "The green bank will therefore invest 325 million euros by 2014 in its subsidiary, Cariparma to improve synergies with the group, developing multi-channel distribution (Agencies Internet and phone) and open a dozen agencies each year primarily in its home regions: Tuscany, Emilia Romagna, Lombardy and Veneto.
In 2014, barring accidents, should relieve Cariparma 2.2 billion and a net income of 417 million euros, up by 30% and 83% from 2011. Ambitious outlook remains difficult in the context through which the Italian banking market. Between 2007 and 2010, net banking sector has in fact decreased by 4 bad credit unsecured personal loans.2% – and 1% for Cariparma. But the subsidiary of Credit Agricole, which already has as the most profitable bank in Italy, believes it can gain ground by playing on the integration of its businesses. She intends to win 150,000 new customers, primarily among young people and SMEs, on a base of 1.7 million in early 2011.
Crédit Agricole is present in Italy since the 1970s. In 2011, all Italian activities (retail, insurance, consumer finance, asset management …) has reported a profit of 1 billion euros.The French group was able to hand over bank networks thanks to its historic capital of any bank who founded Intesa Sanpaolo. In 2006, the Mutual has first acquired regional networks and Cariparma FriulAdria and last year 172 branches of Intesa Sanpaolo. Under the agreements with the Italian Antitrust, Crédit Agricole has gradually decreased its stake in Intesa. It holds only 3.8%.
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The World Health Organization has classified the mobile phones in the category of products whose use is "possibly carcinogenic". If their harmfulness is not formally demonstrated, scholars have already shown that heavy users appeared to have a greater risk of developing cancers in the head (brain, parotid gland, inner ear). It is therefore necessary to minimize, at least as a precaution, exposure. Lefigaro.fr present you some tracks.
Use the speakerphone or handsfree
The amount of air absorbed by the body decreases rapidly when leaving the phone (decrease proportional to the square of the distance separating the receiver from the transmitter). The use of loudspeaker used to limit its exposure. Similarly, hands free kits are very effective even if a very small waves propagate along the wire.
Bluetooth kits work them on the same frequency range as laptops (or Wi-Fi). But they emit more than 200 times less safe. From the moment the end user's team for that call, they are commendable. Otherwise, they can instead make things worse.
Limit conversations moving
The phones do not emit systematically with the same power. When you start a conversation when the phone connects with the relay antenna, it is more important example.
When you are moving (subway, car, train), your phone also emits more strongly to search for nearby antennas. And when you pick wrong, your phone tries to compensate by sending more powerful waves.In both cases, it is better to avoid spending long shots son.
Call from a fixed maximum
The best way to avoid exposure to wave the phone is still … not to use it. Behind this lies a profound truism commercial development: since December 2010, the major ISPs offer for very reasonable money, unlimited plans to laptops. We can call his friends without breaking the bank since its fixed.
Note that cordless phones and son (also known as DECT) operate on the same wavelength range but emit about ten times times less power.
Prioritize mails and SMS
Speak no more: write. In this way, you keep your laptop away from your ear and you limit the amount of waves it emits. The introduction of SMS packages and mails Unlimited makes this alternative economically viable.As for phones, they are more likely to have full keyboards that facilitate the writing of messages. Some users have already integrated this new way of communicating.
Do not keep your laptop close to you
Your phone emits at very short intervals to keep in touch with the network (or 3G telephony). Better to leave your laptop on your desktop in your pocket, in your living room on your bedside table. Most phones now have a function "airplane" that lets you disconnect your terminal from the network and benefit from other applications (alarm clock, games, etc.).
Buy a phone with a small SAR?
Cell phones all have a SAR (Specific Absorption Rate) which gives the amount of absorbed wave by human tissues for a maximum emission.Limited to 2 W / kg in Europe (1.6 W / kg in the U.S.), it is measured by the manufacturer itself has a legal obligation to mention it in the manual. Some websites will enumerate the values to allow comparisons. Critics point out that a DAS phone can be clamped to get a hint when he issues an average of more waves than cameras with a high SAR.
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"Asia, the Mecca of luxury groups. This could be the slogan applied to Gucci, Prada, Burberry, Hermes, Dior and others at the end of the financial and economic crisis that has shaken the past three years the global economy. For all these companies, if they were not spared by the crisis, have largely absorbed the shock by taking advantage of the growing appetite of Asian markets for luxury, chic, and know-how almost craft of some European countries.
This appetite, the luxury sector was well integrated, making the Asian market including China and Japan, their main growth drivers. For example, the French LVMH in 2010 from nearly 35% of its turnover in Asia (25% excluding Japan).In the first quarter 2011, excluding sales of the Japanese archipelago (affected by the tsunami on 11 March), billings Asian group Bernard Arnault grew 24% and 30% on the only Chinese territory.
Finally, by 2015, China should be the first global luxury goods market in all sectors according to consulting firm Pricewaterhouse Coopers. And to develop there, Western societies today are choosing bulk of trading in Hong Kong, the gateway to become known in China. "With its historical heritage, the Hong Kong is much more attractive than that of Shanghai, details of William Corbiac, emerging equities manager at Axa IM. It is much more liquid, accounting standards are long Anglo-Saxon, there are many financial analysts, fewer permissions and cheaper.In Hong Kong, Western investors feel almost like home. "
Making a name
This is the typical case of American Coach, specializing in accessories (shoes, bags, sunglasses, jewelry …) who announced in early May will be doubling its side by the end of the year, Stock Exchange of Hong Kong and its place of origin, New York. For all the luxury groups, for historical reasons or qualitative, not in Asia have the notoriety of LVMH or Hermes. The goal of Coach is clearly stated: "better brand awareness among consumers and investors in the Chinese market and throughout Asia," according to its CEO Lew Frankfort said in a statement.
This Friday, the luxury goods group Burberry has come to swell the ranks of contenders.Already present in London Stock Exchange, the British group would try to seek a listing in Hong Kong by Hong Kong Economic Journal, to "increase the interest of Asian investors."
The idea is not new. "Many Chinese entrepreneurial companies, including Internet companies and in renewable energy, are parties in the 2000s to seek a listing on Wall Street to take advantage of both technologies and to conquer the U.S. market, said William of Corbiac. We can now do the exact parallel with these Western groups visionary who want to be closer to the markets they want to grow. " A listed company must indeed comply with the requirements of disclosure and / or related to its activity, which increases its exposure to the media and therefore the general public.What support development activity in new geographical area. A strategy that seems to have also adopted in another sector, BNP Paribas. Initially, the French bank will not undertake a capital increase at its eventual listing and just want to "enjoy a better visibility in China."
A significant influx of capital
But watch it only as a matter of image. For BNP Paribas may, in a second time, make an appeal for funds on the Hong Kong site, thus killing two birds with one stone. For their part, the intruding Western luxury brands in Hong Kong are also looking to take advantage of capital and investors who flock to this place. In 2010, according to data from PricewatershouseCoopers, nearly 45 billion euros have been raised, an increase of almost 80% over one year.And for 2011, the firm estimated 30 billion funds in Hong Kong through introductions. A total of one hundred companies are entering the stock each year, more than half are Chinese.
This is the case of the Italian Prada, which recently received the green light from authorities in Hong Kong market. Pending the final IPO price (June 16) and the introduction scheduled for 24 June, the Italian company hopes to raise about 2 billion dollars (1.4 billion euros). After three failed attempts, Prada therefore preferred to Hong Kong to Milan, saying "better" opportunities offered by the international capital market.
Before her, and with the same motivations, the French L'Occitane has chosen Hong Kong to make his first public offering, there is just one year.One way for the group operating on the cosmetics market is very dynamic in Asia and almost treated as a luxury brand, to raise 532 million euros. What repay debt and finance part of its development. This gamble on the brand image now appears successful, while Reinold Geiger, President of L'Occitane, explained that he initially had great difficulty to prevail in Taiwan and Hong Kong. And for investors who subscribed to the introduction, the operation has also been very positive, because despite the turbulent early sessions, the stock rose over 30% year on year.
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Twitter to keep its territory, San Francisco has agreed to reduce its withdrawals. The dynamic Internet group threatened to leave town if he did not get an exemption from tax assessments. The municipality sold late last week. "The town where we grew up and started our next house will remain," announced on the blog's group communications manager, Sean Garrett.
Twitter threatened to move from Brisbane, a town in the suburbs south of San Francisco, closer to the heart of Silicon Valley, where the headquarters of many groups and start-ups on the web. The CFO of Twitter, Rowghani Ali, believed a move would allow the group to save 30 million dollars in taxes, rents and other expenses over the next five years. "A significant difference for a company our size," said Ali Rowghani.According to eMarketer estimates, the turnover of Twitter totaled $ 45 million in 2010.
San Francisco did not want to lose the company that is revitalizing its image. Twitter has played. "Our growth is able to generate the creation of a true business center in our area," argues Ali Rowghani. The municipality has decided to grant exemptions from social contributions for new employees for companies that locate in certain neighborhoods in decline pay day loans. Twitter, which has 400 employees, plans to have nearly 3,000 in 2012.
Tax on wages
The municipality, it is true, remains unwelcoming financially for Internet groups. It is the only California tax corporations based on employees' income.Companies paying more than $ 250,000 in payroll is subject to a fee equivalent to 1.5% of the sum. Moreover, this tax applies to all forms of income, including profits realized on the resale of stock options, says the New York Times. This form of remuneration is very popular with start-ups and other Internet groups.
After facing the group sold microblogging, San Francisco is now facing demands from other companies. Specialist Zynga games online community, which produces Farmville, complained of this privilege and threatens to turn to leave the city. The New York Times, "legal services in the city now planchent exemption from taxes on wages covering the whole surface of the city."
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The success of touch pads for the first time contributes to the decline in sales of computers. That is what the preliminary results of a study conducted by Gartner. The global PC market was 84.3 million units in the first quarter 2011, down 1.1% over the same period last year. These figures show a decline in sales of computers, first for 18 months. And this, when Gartner expected a rise of 3% for the first quarter of 2011.
"The low prices of consumer computers, which had long sustained growth, failed to attract buyers. Consumers have turned to the shelves and other multimedia devices in place, "says the study report, Gartner analyst, Mikako Kitagawa, noting however that the business market can limit the overall decline."With the launch of the iPad 2 in February, consumers turned to the purchase of alternative devices, or have simply chosen to buy a computer. We are studying whether this trend will have a long-term effect on the PC market. "
Declining sales due to currency
The general downward trend is however subject to disparities. If the European and Middle East is showing the first signs of decline "since the end of the recession in the fourth quarter of 2009, computer sales in Asia were up by 4.1% with 28.2 million computers for the first quarter of this year. Japan, devastated by the earthquake and tsunami of March 11, recorded the biggest drop in sales with -13.1% with only 4 million computers sold. In contrast, sales of computers in the Asia-Pacific are still growing.The Latin American market shows him the strongest momentum with an increase of 5.4% to 8.1 million units.
A lifetime of computers longer
"The consequences of events in the Middle East and Japan do not directly affect sales, but still a factor influencing the market in the short term, the findings by Gartner joins Jay Chou, senior analyst firm IDC Worldwide. "However, good quality computer products have become a reality today, with the advent of laptops, and more recently, multimedia tablet," he said in a statement. Bob O'Donnell, IDC wordlwide, is more reserved: "It is tempting to attribute the entire decline (the market) to the development of multimedia tablet, but we believe that other factors such as life longer PCs have had roles as important. "
Over the full year, Gartner predicts that sales of computers continue to "support" from their 2010 level. The upgrading of computer equipment should make it possible to support the market until late this year or early 2012.
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Still cautious various publications, U.S. markets open as expected on a slight rebound. Boosted by better than expected financial results of JPMorgan and rising retail sales in the U.S.: the Dow Jones gained 0.43% to 12,318 points and the Nasdaq 0.62% to 2765 points.
Wall Street resumes are a few colors after a session Tuesday marked by a sharp decline. Investors worried both the reclassification of the Japanese nuclear disaster at the same level as Chernobyl and disappointing quarterly published at the opening of the season results, the aluminum giant Alcoa.
Barack Obama facing the U.S. deficit
The International Monetary Fund (IMF) has also sounded the alarm about the U.S. national debt, stressing the lack of a sufficiently credible strategy to stabilize it.A lack of strategy could, in the global institution to present a small but real risk of further economic crisis.
According to figures released yesterday evening after the close of trading in Europe, the U.S. budget deficit reached because $ 188 billion for the month of March, 829 billion dollars over the first six months of the fiscal year 2010/2011. The 2009/2010 Budget posted at the same time, a deficit of 49 billion dollars.
Barack Obama also will speak in Washington in early afternoon on the subject. An exercise that looks dangerous. In presenting this Wednesday, its solutions against the deficit and debt, Bush will indeed have to refute the arguments of his Republican opponents, while maintaining a careful his Democratic electorate.The budget agreement with the Republicans against the balance of fiscal 2011 has not yet been formally approved in Congress.
Retail sales and the Beige Book Menu
Retail sales rose slightly less than expected in March in the U.S., higher gasoline prices accounting for a significant share of consumer spending at the expense of other purchases, according to data released Wednesday by the Department of Commerce payday loans no teletrack.Les retail sales rose 0.4% from February. Economists polled by Reuters expected a 0.5% increase. This is the ninth consecutive month of increase but also the lowest variation observed since June 2010, when sales fell 0.3%.
JPMorgan publishes its accounts
On the corporate side, banks are in the spotlight: JPMorgan (0.57% to 46.91 dollars) has announced a net profit before trading up 67% to $ 5.6 billion, under its first quarter.
U.S. bank Citigroup (-0.14% to 4.54 dollars) will pay a record $ 54.1 million to a small group of investors who accused him of having misled about the quality of loans' toxic "to local communities. In a decision of the arbitration body, one of U.S. authorities on financial regulation, FINRA, agreed that Citigroup should compensate an investor for 52 years, Jerry Murdock, and a retired lawyer of 69 years, Gerald Hosier, to height by 3.9 and 21.7 million.In addition, the bank will pay $ 8.5 million to an investment fund, Brush Creek Capital, said this ruling dated Monday and Tuesday consulted on the website of the FINRA.
Schneider and Tyco International
According to the Daily Telegraph, Schneider Electric, for its part would have sent a letter in which he manifested his interest in an offer of $ 30 billion on Tyco International, from the perspective of giving birth to the world's leading security systems. Relayed by Bloomberg a few days ago, this rumor was not convinced of market analysts. Some feared that the transaction is too large for Schneider, who, on Wednesday denied being "currently" in discussions with Tyco.
The capitalization of Tyco accounts for about half that of Schneider (31.7 billion euros). Schneider rebounded Wednesday on the Paris Bourse.The action Tyco, which rose from 7.41% late Tuesday on Wall Street could also react. In early trade, she dropped 1.19% to 51.71 dollars.
The Paris markets do not take risks on Monday. The CAC 40 thus begins the day on a small drop of 0.19% to 4054.32 points. At mid-session, the Paris index was down 0.67% at 4034.68 points. A trend that has persisted until the end because at 17:30, the CAC shows a shrinkage of 0.57% to 4038.70 points.
In Paris as elsewhere, investors are trying to make a first point on the Japanese situation, one month to the day after the disaster that has ravaged the north-east. Reassuring news fell on the nuclear situation: According to government spokesman Yukio Edano, "the risk that the situation at the nuclear power is deteriorating and it leads to a new major radiation leak was significantly reduced. " In Asia this morning, markets have however not given clear signals.
Side indicator, the day promises to be especially quiet since no statistics are expected. Only INSEE announced before trading up 0.4% of French industrial production in February, after rising 0.7% in January.
The rest of the week will be loaded with particular current accounts in France and the German ZEW index Tuesday, the Fed's Beige Book on Wednesday, the weekly jobless claims in the U.S. on Thursday and the index of U.S. consumer sentiment Friday.
Markets await especially forward to the start of the dance publications of quarterly results in the United States. As usual, Alcoa will begin the festivities this evening.
As for currencies, the euro appears small drop, to 1.4453 dollar. Same thing for oil, hit by profit taking after sharp gains last week.Oil prices retreated Monday in the opening in New York, a barrel of benchmark yielding 62 cents to 112.17 dollars, as investors pocketed some profits while waiting to see if the possibility of a cease-fire became a reality in Libya.
EDF and its subsidiary EDF EN fly
Renault: -2.21% to 39.98 euros
The board of directors of the group will try Monday to see more clearly in the wrong spying scandal at a special meeting and will try to establish the responsibilities of everyone in this fiasco. The group planned to communqiuer after closing. According to Reuters, Patrick Pelata, number two in the group had resigned and this time his resignation was accepted by Carlos Ghosn.
EDF: 1.99% to 27.92 euros, EDF Energies Nouvelles: 9 guaranteed payday loan.74% to 40.21 euros
The listing of both Kingbird, who was suspended Friday after the announcement of a takeover offer from EDF on the 50% stake in its subsidiary EDF EN it does not already own, resumed today with a bang.
EDF also requested that the EPR reactor being built at Flamanville is considered "priority" as part of the audit of nuclear safety in France, said the Nuclear Safety Authority.
United States, the commission (NRC) has denied Unistar, owned by EDF, a license to build a new reactor at Calvert Cliffs Nuclear Power Plant.
Saffron: -1.75% to 23.59 euros
The Central Directorate of Internal Intelligence (DCRI) investigation on suspicion of spying for Turbomeca, a subsidiary of Safran including computer networks have been "looted" for several months.
NYSE Euronext: -1.64% to 26.31 euros
The board of directors of the transatlantic exchange operator yesterday rejected unanimously the offer of participation of $ 11.3 billion made by Nasdaq, coupled with Intercontinental Exchange (ICE).
Crossroads:: 31.72 EUR -0.28%
The walkouts on Saturday in favor of wage increases were a success according to the unions, who speak highly mobilized. The strike rate ranged from 30 to 85%.Negotiations will resume Wednesday.
Sanofi-Aventis: 1.04% to 51.27 euros
The group said Friday night that completed the acquisition of Genzyme after the reopening of its bid and said the U.S. biotech is now a subsidiary that holds all.
Total: -0.34% to 43 euros, GDF Suez: -0.33% to 27.33 euros
The French government has decided to ban the exploitation of shale gas and the repeal of licenses already granted.
Areva – 0.50% to 31 euros
The group bought for 1.62 billion euros from Siemens in the joint venture Areva NP, paving the way for a merger between Siemens and the Russian Rosatom, said on Sunday the German newspaper Die Welt.
Note that the bank respond well to the changing situation in Portugal and the ads on Friday on the European stress test.Societe Generale (-1.32% to 47.22 euros), BNP Paribas (-1.08% to 54.11 euros), Credit Agricole (- 0.67% to 11.78 euros) and Natixis (-0 , 63% to 4.13 euros) are in green.
Will there a shortage of cameras in France? The French representatives of Japanese companies have shifted from caution to a post-earthquake alarmist tone. "The situation is critical, we will receive a limited amount of cameras. The months of May and June, traditionally important to sales, will be very complicated, "says Laurent Roussel, president of Panasonic France.
For his part, that Nikon is launching this month its new SLR D5100 warns there will be only 140 000 shipped worldwide or the quantities for normal development. "Then we do not know when the next will be produced," says Benedict Dieuleveult. This means that the restocking might as well take place in May than in September. And in the latter case, it will be too late to ensure supplies for the summer season crucial.The SLR market, which accounted for 600,000 sales in France in 2010 is the most affected segment of the camera market.
The reasons for these delays are related to the consequences of the earthquake that hit Japan on March 11. The factories of the great names of the photo little affected by the tsunami, but are still penalized by blackouts or disruptions in component supply. Canon is thus a state of "intermittent generation," "partial recovery of activity" in its sites dedicated to optics. Among Japanese manufacturers, Olympus only exception to this rule: it only has an optical factory in Japan, located on the west coast of the archipelago – the tsunami struck the east. Its production units are located elsewhere in Asia. "Right now, we suffer no delay nor a decrease in delivery, says Christophe Valentin, marketing director of Olympus France.But we remain always thank you for the interest in a sub-contractor. "
Threats to employment
The numerous local subcontractors in the industry have suffered more from the tsunami. Some productions have still not recovered components of "normal" levels and in the worst cases, have not restarted. Most major Japanese houses have also set up systems to help support the rebuilding of their suppliers.
Corollary fears of disruptions in store, announcements of price increases began. Panasonic was the first to open the ball, with an increase of 10 to 12% on its products for the month of May. "This increase is also intended to help the French structure, knowing that the volume of sales probably will fall," said Laurent Roussel. His concern is shared. "The French subsidiaries of Japanese corporations are 7 000 to 8 000 jobs.A decrease in their activity could have negative consequences on employment, "says Laurence Fauque, General Delegate of Ficime, a federation of businesses. In turn, distribution and particularly specialists could be financially penalized by supply disruptions.
The NYSE, returned to its levels before the earthquake in Japan after braving geopolitical tensions in the Middle East, nuclear crisis in Fukushima and threats to the eurozone, catch your breath. Very hesitant start, the indices have flirted with the balance throughout the session before finally closing down very slightly. The Dow Jones loose and 0.19% at 12,201 points, the Nasdaq lost 0.45% to 2731 points and the S & P coward 0.27% at 1310 points.
Yet, on the side of macroeconomic indicators, the positive news were chained:
– Household consumption has increased slightly more than expected in February, as consumers tapped into their savings while inflation accelerated at an unprecedented pace since June 2009, official data showed on Monday.According to the U.S. Commerce Department, spending rose 0.7% after rising 0.3% in January (revised from 0.2%).
– The promise of home sales rose against all odds over the month of February, according to data released Monday by the National Association of developers. One month to another, this increase amounts to 2.1%, while analysts expected a decline of 1% after falling 2.8% in January.
Employment at the rendezvous
But the caution was then that the main highlight of the week is expected Friday with the monthly figures of employment in the United States. These numbers will give "a fairly complete what happened in March for consumer spending, industry and economy, and give a good idea of the performance of the economy in the first quarter" , say the experts Hugh Johnson Advisors.The market expects the new posts at the same level as last month, around 190,000.
On the currency markets, the euro retreated against the dollar on Monday, suffering still concerns on the eurozone, while the dollar remained supported by comments from U.S. Federal Reserve (Fed) on a possible next policy normalization U.S. monetary. At closing, the euro stood at 1.4090 dollars against 1.4081 on Friday.
Time to "window dressing"
The side of values this week, while the month of March ends investors should conduct operations offs quarter-end or "window dressing". A system that is to buy at end of period shares that are doing well to present a portfolio more attractive to future investors.The values of energy, which, buoyed by rising oil prices gained 14% since the beginning of the quarter according to the S & P sector, the compartment is the most powerful moment for the first quarter. Marathon Oil is up 40% so far this quarter. El Paso 31% and 30% of Valero Energy, Chevron 17%. The latter is the value of Dow Jones, which displays the largest increase since January 1. Behind the energy sector, industrial arrive, up about 6%, consumer specialist, up 4% and technology (+3%). The second value is the best performing Dow Jones Caterpillar, up 16.5%.
Always on the side of values, an eBay (-4.29% to 30.34 dollars) has announced its intention to acquire GSI Commerce, a provider of marketing services for e-commerce. The transaction represents approximately $ 2.4 billion.
This weekend, AMR Corp. (2.62% to 6.67 dollars) could decide to split its American Eagle regional airline in May, according to information compiled by Bloomberg from the pilots' union.
The International Trade Commission (ITC) has rejected Nokia (4.67% to 8.74 million), accusing Apple (-0.31% to 350.44 euros) for having violated several of its patents.
Ford (-1% to U.S. $ 14.86) announced a cessation of production of five days at its plant in Genk, Belgium from April 4, following supply problems caused by the earthquake in Japan.
Netflix (3.18% to 237.32 U.S. dollars) have entered into a distribution agreement for a period of five years with the studio Miramax, for a total of more than $ 100 million (Reuters).
Greenstone, the branch of pharmaceutical giant Pfizer (-0.39% to 20.27 dollars) has recalled two drugs in the United States, and citalopram finasteride following a labeling error on the part of a supplier.
Research In Motion (-1.56% to $ 56) announced the acquisition of Canadian tinyHippos startup, mainly known for Ripple, its development platform and test mobile applications. The terms of the transaction were not disclosed.
Wal-Mart (-0.31% to 52.19 dollars) has announced the reopening of 12 Seiyu stores in the region of Sendai, Japan.
The Minister of Youth and Sports welcomed us in adjacent rooms at the stage of Marrakech. Before answering our questions, he took a few minutes to finish a chat with young surfers on his Facebook page. "For nearly four months, it scans the current social, economic, political and sports every Tuesday from Morocco," explains Rashid Maaninou, Inspector General of Ministry of Youth and Sports. While the country is already host to the African Cup of Nations (CAN) in 2015, the Minister gave an update on the outline of the professionalisation project of Moroccan football.
Lefigaro.fr – Where is the professionalisation of African football?
Moncef Belkhayat – It is now clear that Africa is lagging behind. The only country on this continent is professional in South Africa, host of the last World Cup in 2010.In addition to Morocco, Algeria, Egypt and Tunisia are closer to get there. This requires a large dynamic range and great political will.
This political will is there she in Morocco?
Yes, and we now have a legal arsenal to create what I call a sports economics. With the Royal Moroccan Football Federation, we have prepared a bill with orders that will be applied on September 30. The Federation has in his possession a specification that will provide all clubs of first division football. We will then raise the clubs in this project and make them aware that they have until June to sign it.
Be considered as professional clubs will have a stadium of at least 15,000 seats, a budget of at least 1 million euros, a school for training and financial support of local and private investors . Those who do not meet these criteria will be demoted to the second division. The goal is that Morocco has its professional league in September for the 2011-2012 season.
What are the highlights of this professionalisation?
The department has launched many projects large stadiums. We inaugurated last January that the Marrakech which can accommodate 45,000 spectators and cost about 90 million euros. Stages of Tangiers and Agadir should be delivered respectively by the end of the month and in December for the reception capacity of 45,000 seats and investment costs of just over 85 million euros each.Finally, the chamber of Casablanca should break ground next May and have 80,000 seats. Its cost is around 200 million euros. We are now launching a second wave of stadium from 10,000 to 25,000 seats in smaller cities like Kenitra, Khouribga, Tetouan …
But do not forget training. The legislation thus provides for the mandatory school sports. We currently have 29 centers of local social and sports, 150 are under construction and we have signed with local communities to have 300 new. The goal is to have 1000 by 2016 50% funded by the state and 50% by local authorities.We will finally sign an agreement with the Union to create private Marrakesh soon a faculty of sports in Marrakech.
How to make sure the stadiums built in Morocco?
The stadiums built in Morocco are not exclusively dedicated to football stadiums. They all have an athletics track and can host events and international meetings in this discipline. They also feature a number of rooms and spaces covered in order to host conferences and seminars. In addition to football, we plan to organize a cultural event per month.
Finally, we will develop annual programs of sponsorship for each of our stages.Thus, the stage of Marrakech, the sponsors will give their name to one of the towers placed around the enclosure for 20,000 euros a year, buy VIP boxes for 40,000 euros per year or be visible through panel 5000 € 10,000 per game payday advance low fees.
The presence of the Moroccan State in football is it not a barrier to its development?
Indeed and that is why the law we will implement plans that clubs become sports companies held initially for up to 70% by private investors and therefore at least 30% by the government through associations. But once the clubs will be sufficiently well-structured is to say by the African Cup of Nations (CAN) 2015 that Morocco hosts – the state should gradually phase to enable them to become independent and thus finance their development on the financial markets or through the contribution of private investors.
For clubs to gain this maturity, we must develop more of an incentive framework that I discussed an appropriate tax. In other words, reduce their taxes, VAT exempt their sports equipment, giving them access to cheap land to the State, etc. …
Yet no bank or insurance company invest in Moroccan football. How to convince?
Banks want above all that we bring them some visibility on the return of their investments. These are players with a strong corporate culture. We must be as transparent and as professional as possible with them. But it is now sporting institution, advertisers and media need to put around the table to ensure that the Moroccan football becomes a unique platform for exposure.
For this, we draw a lot of European and American models.Today, football clubs are associations whose bylaws do not like companies holding the balance sheet, income statement, audit, certification of accounts. By initiating the transformation of these sports associations into commercial companies, this will allow them to present banks with a real record and thus be able to raise with them the debt.
Exactly, you complain a lot with this law does not take into account the specificities of Morocco and inspired the French model. What is your response?
Moroccan laws are historically based in France. I studied in English-speaking countries and I know the quality of other European models, including that of Germany, whose resources are very diversified.
Now, I realize that the more we advance towards the professionalization and transparency and the more people who feel aggrieved.But especially the greater our chances of clubs even more powerful, able to pull up all the Moroccan football.
Revenues generated by the Moroccan football clubs are they diversified?
Sponsorship and television rights revenues represent 60% of Moroccan football. With the professionalisation of football, we also established an exclusive TV rights with the National Society of Radio and Television for $ 60 million. As for the budget through sponsorship of football in Morocco, it accounts for 10 million euros.
We also have a background of sports development, which can help in different sports. This fund is financed by the Moroccan society and sports games (MJDS), an organization that depends on our sports department in charge of paris.With the new structure of this entity, revenue increases on a regular basis, so this allows us to develop different disciplines.
Morocco organizes the African Cup of Nations in 2015. The objective is it now to organize a World Cup?
CAN 2015 will be a first indicator of our ability to receive a great event. Then we can confidently consider us as a candidate to host the World Cup 2026.
But our goal must not only be a candidate, but to organize it. It is only then we can say that the Moroccan football was professionalised. South Africa did. Why not Morocco?
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